The conveyancer who helped my previous purchase has sent a quote for £1400 for freehold conveyancing in Oughtibridge. I am looking to sell a Georgian property for £150,000. Is this over the top? Is it above what I should be paying for conveyancing in Oughtibridge?
The charges are a bit high. If you are content to expend time scrutinising prices you could get the conveyancing a bit cheaper by as much as £125. On the other hand, you couldcome to rue choosing an an unknown lawyer. If is important to check that the conveyancer can act for your bank. Do use our search tool to select a Oughtibridge conveyancing company on the lender’s approved list of lawyers which can often include conveyancing solicitors in Oughtibridge.
My wife and I intend to remortgage our flat in Oughtibridge with Aldermore. We have a son 19 who lives at home. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the flat is forfeited by the lender. I have a couple of concerns (1) Is this document specific to the Aldermore conveyancing panel as he never had to sign this form when we remortgaged 5 years ago (2) Does our son by signing this giving up his rights to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Aldermore. This is solely used to protect Aldermore if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Aldermore had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Can I use your services to locate a Conveyancing solicitor in Oughtibridge even where I’m not buying or selling a house, for example if I intend to buy a shop in Oughtibridge with a loan from Barnsley Building Society?
Our comparison service is primarily utilised to select domestic conveyancing solicitors in Oughtibridge but we have set out towards the bottom of this page a selection of Oughtibridge commercial conveyancing firms. You should enquire with the company directly to check if they are also authorised to represent Barnsley Building Society
How does conveyancing in Oughtibridge differ for new build properties?
Most buyers of new build or newly converted property in Oughtibridge approach us having been asked by the developer to sign contracts and commit to the purchase even before the premises is constructed. This is because developers in Oughtibridge tend to purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Oughtibridge or who has acted in the same development.
There are only Fifty years unexpired on my flat in Oughtibridge. I now want to extend my lease but my freeholder is absent. What options are available to me?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to prove that you or your lawyers have used your best endeavours to track down the landlord. For most situations a specialist would be useful to carry out a search and to produce an expert document which can be used as proof that the landlord is indeed missing. It is wise to seek advice from a conveyancer both on investigating the landlord’s absence and the application to the County Court covering Oughtibridge.
I bought a split level flat in Oughtibridge, conveyancing having been completed 7 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Oughtibridge with an extended lease are worth £180,000. The average or mid-range amount of ground rent is £65 yearly. The lease terminates on 21st October 2083
With just 59 years unexpired we estimate the premium for your lease extension to range between £20,900 and £24,200 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.
Midway through the sale of a leasehold flat in Oughtibridge. Conveyancing lawyers are doing their job but we are being charged a fortune by the landlord. To date we have paid £275 for a leasehold management information and then another £118 for additional queries supplied by the buyers property lawyer.
Neither you or your conveyancing practitioner will have any sway over the level of the charges for this information but the typical costs for the information for Oughtibridge leasehold premises is £395. When it comes to Oughtibridge conveyancing transactions it is usual for the owner to cover the costs. The freeholder or their agents are under no statutory obligation to address these questions although many will be willing to do so - albeit often at exorbitant prices disproportionate to the work involved. Unfortunately there is no law that requires set charges for administrative tasks. Nor is there any prescriptive time frame by which they are duty bound to provide answers.